Venus Remedies today said it has received it's first patent approval from the United States Patent and Trademark Office (USPTO) for its product Vancoplus used for treating bacterial infections.
"With this patent grant, which is valid up to December 2027, the company is all set to tap the US market by launching the product," Venus Remedies said in a filing to the Bombay Stock Exchange (BSE).
The company intends to launch the product in early 2014, it added.
Vancoplus has already received patent approvals from South Africa, New Zealand and Ukraine and the company is expecting approvals from countries like Canada, Russia, Mexico, Brazil and Japan, Venus said.
"Vancoplus ...Is the only remedy after vaccination to treat Methicillin-resistant Staphylococcus aureus (MRSA)," it added.
Methicillin-resistant Staphylococcus aureus (MRSA), is a bacterium responsible for several difficult to treat infections in humans.
MRSA's global market size stands at $9 billion, Venus Remedies said.
Shares of Venus Remedies closed at Rs 241 on the BSE, down 2.6% from its previous close.